Most accountants are busy these days, considering the IRS deadline for filing taxes is less than two months away. While many people view careers in accounting as one-dimensional, most accountants will tell you otherwise. Although a degree in accounting can land you a job with a firm or business, most accountants become Certified Public Accountants to increase their opportunities.
Job description
Accountants ensure that individuals and firms pay taxes properly and on time. They perform these functions by offering an increasingly wide array of business and accounting services, including public, management, and government accounting, as well as internal auditing, to their clients.
Beyond carrying out the fundamental tasks of the occupation, which include preparing, analyzing and verifying financial documents in order to provide information to clients, many accountants now are required to possess a wide range of knowledge and skills. Accountants and auditors are broadening the services they offer to include budget analysis, financial and investment planning, information technology consulting and limited legal services, according to the U.S. Department of Labor’s Bureau of Labor Statistics.
If you enter the field of accounting, expect to put in some extra hours, especially this time of year. One in five accountants worked more than 40 hours per week, with longer hours the norm at certain times of the year, such as at the end of the budget year or during tax season.
Maurice Keith has been an independent accountant in Chicago since 2000. He says the tax season is busy, but that time moves quickly because of the amount of work before him.
“It can be exhausting but there are days that seem to last an hour,” Keith says. “I’ll get started at 7:30 a.m. and will finally look up at the clock when my stomach is growling, which is sometimes around 3:30.”
Training and education: Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. Beginning accounting positions usually require four years of college or an equivalent combination of education and experience. Some employers prefer applicants with a master’s degree in accounting, or with a master’s degree in business administration with a concentration in accounting. CPAs are licensed by individual states.
Job outlook
Accountants and auditors held 1,216,900 jobs in 2010, according to the Bureau of Labor Statistics. Employment of accountants and auditors is expected to grow as fast as the average for all occupations through 2020. An increase in the number of businesses, changing financial laws and regulations and increased scrutiny of company finances will drive growth.
Earnings
According to the BLS, accountants averaged $61,690 per year, or $29.66 per hour, in 2010.